The Portable MBA Chapter One In Chapter One, the

The idea of there being a new competition is based upon the belief that continuous improvement will be driven by the entrepreneurial firm. The authors state that there are four dimensions to the new competition: (1) the firm, (2) the production chain, (3) the sector, and (4) the government. The firm is now defined as an entrepreneurial company, rather than a bureaucratic hierarchy. The production chain now includes cooperation between otherwise independent companies to conduct value-adding activities. This in turn has made the business sector the focal point of discussion. Finally, the new competition has refocused government antitrust policies on international trade (Bruner, et al., 1998, pp. 4-8).

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Until then, the sales force of a firm was focused simply upon providing to the customer what was produced. The new marketing concept held that marketing was central to the function of the firm and that its purpose was to create a customer. Thus, the customer was the singular focus of the firm (Bruner, et al., 1998, pp. 103-106). In its central role in corporate strategy, marketing consists of customer focus, competitor focus, interfunctional coordination, and future profit orientation. One of the most important tasks in marketing is customer selection. Customer selection requires market segmentation. Different groups of customers act differently. Marketing specialists must identify these segments, understand them, and work to meet the differing needs. Firms that segment their markets not only realize higher profits but also understand their customers better, enabling them to respond to customer needs and wants in a more effective manner (Bruner, et al., 1998, pp. 108-117). The most important actors in marketing activities are a firm's employees. Customer value creation is largely dependent upon the interaction between employees and customers. Successful marketing-oriented companies are those who have empowered their em
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